Iridium Communications Inc (NASDAQ:IRDM) Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC boosted its stake in Iridium Communications Inc (NASDAQ:IRDM - Free Report) by 182.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,109 shares of the technology company's stock after purchasing an additional 11,705 shares during the quarter. SG Americas Securities LLC's holdings in Iridium Communications were worth $495,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in IRDM. Plato Investment Management Ltd bought a new stake in shares of Iridium Communications in the 4th quarter worth about $32,000. SBI Securities Co. Ltd. purchased a new stake in Iridium Communications during the fourth quarter valued at approximately $37,000. UMB Bank n.a. raised its position in Iridium Communications by 129.8% during the first quarter. UMB Bank n.a. now owns 1,379 shares of the technology company's stock valued at $38,000 after purchasing an additional 779 shares during the period. Pinnacle Holdings LLC lifted its stake in shares of Iridium Communications by 45.4% in the 4th quarter. Pinnacle Holdings LLC now owns 1,528 shares of the technology company's stock valued at $44,000 after purchasing an additional 477 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in shares of Iridium Communications by 529.6% in the 4th quarter. Covestor Ltd now owns 2,512 shares of the technology company's stock worth $73,000 after purchasing an additional 2,113 shares during the period. Institutional investors own 84.36% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Oppenheimer initiated coverage on shares of Iridium Communications in a research note on Monday, May 5th. They set an "outperform" rating and a $34.00 price objective for the company. Wall Street Zen downgraded Iridium Communications from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. BWS Financial lowered their target price on shares of Iridium Communications from $30.00 to $25.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. William Blair raised shares of Iridium Communications from a "market perform" rating to an "outperform" rating in a research report on Tuesday, April 22nd. Finally, Barclays decreased their price target on shares of Iridium Communications from $45.00 to $38.00 and set an "overweight" rating for the company in a research note on Monday, March 10th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $34.25.

Iridium Communications Stock Down 0.9%

IRDM stock traded down $0.25 during trading on Tuesday, reaching $28.95. 746,559 shares of the company traded hands, compared to its average volume of 1,161,829. The business has a 50 day simple moving average of $25.89 and a 200 day simple moving average of $27.76. Iridium Communications Inc has a 12 month low of $19.91 and a 12 month high of $35.85. The company has a debt-to-equity ratio of 3.43, a quick ratio of 1.36 and a current ratio of 1.99. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of 27.31, a price-to-earnings-growth ratio of 0.97 and a beta of 0.75.

Iridium Communications (NASDAQ:IRDM - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The technology company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.22 by $0.05. Iridium Communications had a net margin of 14.68% and a return on equity of 19.41%. The firm had revenue of $214.88 million during the quarter, compared to analyst estimates of $211.78 million. During the same quarter in the previous year, the business posted $0.17 EPS. On average, equities research analysts anticipate that Iridium Communications Inc will post 0.89 earnings per share for the current fiscal year.

Iridium Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.14 per share. The ex-dividend date is Friday, June 13th. This represents a $0.56 annualized dividend and a dividend yield of 1.93%. Iridium Communications's dividend payout ratio (DPR) is currently 52.83%.

Iridium Communications Profile

Iridium Communications Inc provides mobile voice and data communications services and products to businesses, the United States and international governments, non-governmental organizations, and consumers worldwide. The company offers postpaid mobile voice and data satellite communications; prepaid mobile voice satellite communications; push-to-talk; broadband data; and Internet of Things (IoT) services.